TSX-V- VGD Raises $4.8Billion in Private Placement
hypergrowthstock Newsletter
Mystocks, Our timing for Visible Gold Mines (TSX-V: VGD) could not have been better. We have been monitoring the newswires since last week expecting the company to announce the closing of its private placement soon and we were right…
Earlier this morning Visible Gold Mine sent out a press release announcing the closing of the deal.
The company announced that it issued to “accredited investors” in Canada and elsewhere on a prospectus-exempt basis an aggregate of 15,000,000 units at an issue price of $0.32 per unit, for gross proceeds to Visible Gold Mines of $4.8 million. The proceeds from the private placement will be used for exploration on Visible Gold Mines` properties and for working capital purposes.
We have pointed out that this news will provide some great momentum for the stock and we are expecting to see another strong rally over the next few months.
Currently the price is trading at $0.59, which we think provides a good entry point.
As we have said before, because of the company`s fundamentals we think the price has the potential to double in the long-term.
You can read the full press release at:
http://ca.news.finance.yahoo.com/s/25102010/30/link-f-cnw-visible-gold-mines-announces-completion-oversubscribed-4-8.html Have a Great Trading Day Your Hyper Growth Stock Team Follow us on Twitter******************
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